In the cryptocurrency markets, there are thousands of tokens, but only a small fraction of them actually produce value and receive demand. Many of them don’t even have tangible products, while others are products released to support price performance and go unnoticed, like Shibarium. This highlights the fact that many cryptocurrencies could potentially disappear in the long run.
Cryptocurrencies that can show long-term presence need products that truly generate value using current technologies. The Graph team has taken a new step with this perspective. The Graph, an indexing and querying protocol for organizing blockchain data, is launching New Era blockchain data services, including advanced data flow services, AI-powered querying with Large Language Models, new query languages, and verifiable data.
Tegan Kline, the CEO of Edge & Node, one of the development teams behind The Graph protocol, said:
“The Graph introduced and standardized subgraphs as the most important way to index and query blockchain data across web3. With the New Era of The Graph, we want to solidify The Graph’s position in the web3 space.”
In addition, the upcoming Graph Horizon network upgrade aims to facilitate the use of the protocol and reduce costs. As interest in the RWA sector increases, the recent steps taken by the Graph team, which has been focusing on blockchain data services for years, can lead to significant collaborations in the long run.
While long-term steps that provide benefits to the price of the altcoin are important, in the short term, the performance of BTC determines the direction of the price. As the king cryptocurrency has once again retreated to the support area today, the GRT Coin price has also eased.
At the time of writing, the GRT Coin price is $0.134 on the Binance exchange. Although today’s news supports the price, most of the gains have been erased. Closures below $0.1326 could lead to further decline towards $0.12. If the $0.1035 level is also lost, selling pressure may be expected to stop near the $0.076 support level.
For now, the direction of the price will depend on whether BTC tests the $36,000 support level again or not.